MBA Scholarship Opportunities to Explore

July 30, 2025
7 min read

MBA Scholarship Opportunities to Explore
MBA scholarships come in all shapes and sizes. The bottom line is they can help you pay for business school by drastically reducing the cost of your degree.
Copy link

Find out the best MBA scholarships to apply for in 2027 ©Rice University Jones Graduate School of Business/Facebook

Pursuing an MBA at a top-ranked business school will set you back an average of US$205,000, according to the BusinessBecause Cost of an MBA Report 2024

With such a significant investment to consider, it’s no surprise that most applicants turn to MBA scholarships to fund their studies

There are many different types of MBA scholarships that are awarded based on specific criteria, including merit, diversity, and financial need. According to the Graduate Management Admission Council (GMAC), 35 percent of business school students receive a merit-based scholarship, with around 15 percent receiving other forms of financial aid.
Below are some exciting MBA scholarships you should know about, offered by independent organizations and business schools alike.

Business school scholarships

Business schools around the world offer thousands of different scholarships. Some are merit-based, often based on GMAT scores, while others are aimed at specific groups of applicants. Here are some notable business schools with MBA scholarship opportunities.

HKUST Business School

Hong Kong’s HKUST Business School offers an MBA merit scholarship for students with exceptional academic performance and work experience. Successful applicants could receive anywhere between HK$50,000 (US$6,400) and HK$500,000 (US$63,700)

There are also several smaller awards on offer, including the Jebsen Educational Foundation MBA Scholarship and the Terry Tsang MBA Admissions Scholarship.

The Wharton School

Every MBA student admitted to the Wharton School is automatically considered for a Wharton Fellowship, based on factors like their background, personal qualities, and community involvement

INSEAD

IINSEAD offers several merit-based scholarships, including the Judith Connelly Delouvrier Endowed Scholarship. This €20,000 to €25,000 (US$23,500 – US$29,400) award is open to female applicants who want to advance the inclusion of women in business.
The L’Oréal Scholarship is open to any candidate committed to creativity, innovation through diversity, and entrepreneurial activity. It’s worth up to €25,000 (about US$29,400).
Needs-based scholarships are also available for successful candidates, and are largely focused on students from emerging economies.

Stanford Graduate School of Business

Scholarships at Stanford Graduate School of Business include the Knight-Hennessy Scholars Program—a full-tuition merit scholarship, offered to successful applicants who commit to making positive change in the world. Applicants with diverse backgrounds are considered, and this applies to all of Stanford’s graduate degrees

Needs-based funding is also available to admitted MBAs. The Building Opportunities for Leadership Diversity (BOLD) Fellows Fund is one example, which provides up to US$15,000 per academic year to MBA students who demonstrate a commitment to expanding opportunities for others.

London Business School

Students admitted to the MBA program at London Business School are automatically considered for a wide range of merit scholarships.
For example, the Laidlaw Women’s Leadership Fund provides up to full tuition to female students in a bid to advance women’s representation at business school and in senior leadership roles.
Other awards include the Mo Ibrahim Foundation Scholarship, open to all successful applicants who are African nationals, and the Gonzalo and Maria Garcia Latin America Scholarship for Women offers a £100,000 (US$135,000) award to “Chilean women who have achieved success in their education and career through their determination, ambition and motivation.”

Diversity scholarships

Some MBA scholarships are offered by organizations to help candidates from underrepresented backgrounds gain access to business education

Consortium Scholarships

Since it was established in 1966, The Consortium for Graduate Study in Management has offered more than US$665 million worth of funding to MBA applicants in the US

The Consortium aims to enhance diversity and inclusion in the business school classroom. It provides merit-based scholarships to applicants from underrepresented backgrounds—including African American, Hispanic American, and Native American candidates

To apply for a Consortium scholarship, you need to apply to at least one partner MBA program through the Consortium portal. All applications are automatically considered for funding—the typical offer is 70 percent of your fees

Forté Fellows

The Forté Foundation is one of the biggest providers of MBA scholarships for women.

Dedicated to helping women advance in business, Forté has provided US$475 million in scholarships to female MBAs since it was founded. Every woman who applies to an MBA at one of Forté’s 61 partner schools is automatically considered for funding. The fellowship is also open to applicants of all genders, gender identities, and nationalities. Scholarship value varies but can cover a significant portion of fees.

Military MBA scholarship

Veterans and military personnel who are US residents are eligible for the Military MBA Scholarship. The award varies in value and is offered by 23 partner schools throughout the United States

Any US resident who holds an undergraduate degree and has served in the military can apply. Your application will be shared with Military MBA’s partner schools, one of more of which could offer you funding.

Paul & Daisy Soros Fellowships

Founded by two Hungarian immigrants in the US, the Paul & Daisy Soros Fellowship for New Americans supports immigrants and their children as they pursue graduate education

Each merit-based award is worth up to US$90,000, and there are 30 fellowships on offer every year. You can use the funds to pay for two years’ graduate study at any college or university you choose.

The application process is competitive, and applicants need to showcase their creativity, organizational skills, initiative, and accomplishments

Industry scholarships

Large corporations and industry bodies are other

Government Finance Officers Association (GFOA) Scholarships

Every year, the Government Finance Officers Association (GFOA) offers multiple scholarships for students interested in a career in government finance

Awards range in value from US$5,000 to US$30,000 and can be put towards a degree of your choosing, as long as it leads to a government finance career

Orbis Investment Fellowship

Leading investment management firm Orbis offers fellowships worth US$15,000 to incoming MBA students who have a passion for investment management

Ritchie-Jennings Memorial Scholarship

The Ritchie-Jennings Memorial Scholarship is administered by the Association of Certified Fraud Examiners (ACFE)

Awards of up to US$10,000 are offered to US-based candidates who want to pursue a career in fraud examination or a similar anti-fraud profession

Edward J DeBartolo, Sr Graduate Scholarships

If you’re interested in a career in retail real estate, the Edward J Debarton Sr Graduate Scholarship can help you on your way

Provided by the International Council of Shopping Centers Foundation (ICSC), the US$10,000 award also pairs students with a mentor. Applicants need to demonstrate their interest in real estate or a related field

Making the most of scholarship opportunities

Just over one-third of MBA students receive some form of merit-based scholarship. You can apply for several different scholarships at the same time, and many students draw on several small awards rather than a single, larger one

To boost your chances of being awarded a scholarship, you should conduct careful research, tailor your applications to specific opportunities, and get started on your applications as early as possible

Taking these steps will help ensure you know exactly what you’re applying for and have plenty of time to refine and proofread your applications

Remember: Once you get a scholarship offer, you can always negotiate a better scholarship package

You should make applying for an MBA scholarship a crucial part of the MBA application process, helping you quickly recoup the investment you make in your MBA

Explore the top ways to maximize your MBA scholarship chances with our downloadable BusinessBecause MBA Scholarship Guide.

Online MBA scholarships: how much are they worth?
Online MBA scholarships can cover up to 100% of tuition. See what the top FT-ranked programs offer and find the right reward for you.

What is a GMAT scholarship and how do I apply?
Discover everything you need to know about GMAT scholarships, including how to increase your chances of being awarded a merit-based MBA scholarship.

5 money-saving tips for your MBA
Want to understand how you can make studying affordable and maximize your MBA ROI? Here are five essential money saving tips for MBA students

What scholarships are available for African students to study business master’s in Europe?
The cost of studying a business master’s degree in Europe is a big factor to consider in your application process. Find out the scholarships and funding options available to you

How much does an M7 MBA cost?
The M7 group of US business schools are among the best in the world. But how much do MBA programs at the likes of Harvard, Stanford, and Wharton cost?

MBA scholarships in India: Types, eligibility, how to apply
MBA colleges in India offer merit and needs-based scholarships to help students access a top business education. Find out what’s available and how to apply

Top study abroad scholarships for business master’s students
Discover the most generous study abroad scholarships for international business students in the US, the UK, Australia, Canada, and beyond

What are some unique ways to fund your MBA?
How will you finance your MBA? From MBA scholarships to international student loans, paying for business school doesn’t always have to be difficult